The benchmark equity indices ended Friday’s trading session in the positive territory. The NSE Nifty 50 gained 83.95 points or 0.33% to settle at 25,235.90, while the BSE Sensex soared 231.17 points or 0.28% to 82,365.78.
The broader indices ended in green, with gain led by Large-cap and Mid-cap stocks. Pharma and Realty stocks outperformed where Media stock shed.
Sectoral Index
Bank Nifty index ended higher by 198.25 points or 0.39% to settle at 51,351. The Nifty Midcap 100 jumped by 402.70 points, or 0.68%, ending the day’s trading at 59,286.65. In the broader markets, small-cap and mid-cap stocks finished in the green.
Top Movers for the day
Cipla, Bajaj Finance, Mahindra & Mahindra, Divis Lab, and NTPC were the top gainers on the NSE Nifty 50, while the laggards includes Tata Motors, HDFC Bank, Tech Mahindra, Coal India, and Reliance Industries.
The Indian Volatility Index (India VIX) closed down by 2.70% at 13.42.
Experts on Today’s Market Performance
“Global markets are currently resonating with the US Fed’s pledges of a rate cut in September. The US & Indian markets have regained the recent highs, reflecting the continuation of this optimism. However, the dollar is strengthening given healthy US GDP growth, strong retail sales and expectation that the upcoming US job claims will be steady leading to shallow rate cuts in the future,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that the domestic market is currently showing a positive bias, the Indian Q1 GDP growth is expected to be moderate, while premium valuation and a lack of fresh triggers could see further momentum buildup in value stocks.
Commenting on the same Ajit Mishra – SVP, Research, Religare Broking said that Markets edged higher, gaining nearly half a percent, continuing the current trend. Positive global cues led to a strong start, followed by a range-bound movement throughout the session. Most sectors participated in the rally, with real estate and pharmaceuticals among the top gainers. Broader indices also aligned closely with the benchmark, each advancing nearly half a percent.
Mishra also added that The recent market uptrend can largely be attributed to global stability and renewed foreign inflows. We expect this positive sentiment to continue, with the Nifty targeting the 25,500 mark soon. Among the key sectors, IT is demonstrating consistent strength, while others show selective participation. In this environment, traders should focus on stock selection, favoring those with relatively stronger performance.
Bank Nifty
Commenting on the Bank Nifty today Riyank Arora Technical Analyst at Mehta equities said that Bank Nifty is currently testing a critical level. A break below 51,372 would be a negative signal, indicating potential downside towards 51,100 and 51,000. The prevailing strategy remains ‘sell on rise,’ with expectations of continued profit booking at higher levels. A contra buy could be considered around the 50,800 – 50,900 levels if the index stabilizes.